Investment banking start-up launches blockchain trading platform for buy-side

Nimbrix to launch a buy-side trading platform which uses blockchain technology.

A FinTech start-up - launched by industry veterans from the likes of BlackRock and UBS - has unveiled a blockchain enabled trading platform for the buy-side community.

Nimbrix’s platform allows data to be shared and analysed by users and trades can be executed in real-time between counterparties, “reducing the risk of trade errors and inefficiencies,” Nimbrix said.

The platform uses Microsoft Azure’s cloud technology, open-API and software as a service for simpler integration to legacy systems.

Several UBS veterans make up the team at Nimbrix, with former software engineers and directors making up the software development team at the firm.

Co-founder of Nimbrix, Benedict Nielsen, was a managing director and head of repositioning group for Europe at UBS Investment Bank, before he joined Nomura to head up its DCM/Syndicate business.

Chief executive officer at Nimbrix, Simon Bullers - former director of IT at BlackRock - said the platform is “more than just a product, it’s a revolutionary approach to software for the financial services sector.”

Aman Kohli, CTO at Microsoft Services in the UK, added: “It’s a next-generation financial services product and we’re seeing great interest from buy-side customers.”

A buy-side consortium - formed with Nimbrix, KPMG and Microsoft – and the core blockchain platform are set to launch early 2017.

Director of insurance and investment management practice at KPMG, Chris MIlls, explained he has “no doubt that Nimbrix will change the way the buy-side does business.”